Harmony Housing Adds to Its Portfolio in Texas and Indiana
- Dec 07, 2016
San Antonio—Non-profit organization Harmony Housing announced it has completed the acquisition of two affordable multifamily properties located in Indiana and Texas. Combined, the two communities encompass 410 units.
Park View at Beech Grove is a 20-building, 160-unit community located at 3641 Dandelion Ave., Indianapolis, Ind. According to Yardi Matrix data, the property was developed in 2000 under Section 42 (LIHTC) provisions and is rent restricted through 2040 as a result. Residents can choose from one- to four-bedroom floorplans averaging 1,216 square feet. Common area amenities include a clubhouse, swimming pool and laundry facilities.
Villas at Costa Brava consists of 52 two-story buildings located at 7333 Potranco Road, San Antonio. It offers 250 units with one- to three-bedroom floorplans averaging 1,037 square feet. Common area amenities feature a fitness center, business center, clubhouse, playground, picnic area, swimming pool with sundeck and two laundry facilities.
“Harmony Housing’s mission to ensure the preservation of permanent affordable housing in the U.S. now benefits thousands of people. We are delighted to have the Park View and Costa Brava communities join our growing family,” Bob Barolak, president, Harmony Housing Advisors Inc. said in prepared remarks.
In the last three years, the company acquired more than 4,000 rental units, which will benefit from preservation as affordable housing on a permanent basis.
Images courtesy of Yardi Matrix